Fall Federal Budget: Will Spending Be Cut?

Canada has historically presented an annual budget since Confederation in 1867, even through periods like World Wars and the Great Depression, but we have recently experienced the longest period without a full federal budget in our history. By the time the next one is brought down, expected in October 2025, it will have been 18 months since the controversial April 2024 budget which introduced the doomed capital gains inclusion rate hikes. What can we expect?

In many ways, Canadians have put the Great Recession behind them. Yet, the cloud of global uncertainty is casting a pall on Canadians’ expectations and businesses’ spending.

If you have a new relationship in your life, it’s important — although often not the first priority — to understand the tax consequences of living with your sweetheart in a family unit.

A recent Supreme Court of Canada (SCC) decision Canada v. GlaxoSmithKline Inc., 2012 SCC 52, adopts a broad test for transfer pricing, which may provide multinational corporations a new strategy for mitigating taxes, namely, transferring funds to sister companies in lower-tax jurisdictions.

Pursuant to Section 133 of the Constitution Act 1867, the Parliament of Canada is required to pass all legislation in French and English, with both versions having equal force.

The Canada Revenue Agency (CRA) has been charged with reducing red tape and making it easier for small businesses to do business.

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